Camellia, a merchandising company, has provided the following extracts from their budget for the first quarter of the forthcoming year: Jan Feb March Sales (30% cash) $400,000.00 $700,000.00 $900,000.00 The company collects 60% of credit sales in the same month and the balance in the next month. Calculate the collections from the customers for the month of February. A. $406,000.00 B. $700,000.00 C. $504,000.00 D. $616,000.00 Under a standard cost system, when recording the use of direct materials in the production process, the debit to Work-in-Process Inventory is A. actual quantity times actual cost per unit of direct materials B. actual quantity times standard cost per unit of direct materials C. standard quantity for actual production times standard cost per unit of direct materials D. standard quantity for actual production times actual cost per unit of direct materials The budgeted production of Capricorn, Inc. is 14,000 units per month. Each unit requires 20 minutes of direct labor to complete. The direct labor rate is $80.00 per hour. Calculate the budgeted cost of direct labor for the month. (Round any intermediate calculations to the nearest cent and your final answer to the nearest dollar.) A. $373,334.00 B. $56,000.00 C. $1,120,000.00 D. $93,333.00 Emeka Company has provided the following information: Sales price per unit Variable cost per unit Fixed costs per month $40 14 $12,000 Calculate the contribution margin per unit. A. $40 B. $54 C. $14 D. $26